Brevan Launches New Credit Fund With $20M Minimum

Jun 22 2012 | 11:56am ET

Brevan Howard Asset Management is asking clients to dig deep for its latest hedge fund.

The new Brevan Howard Credit Value Master Fund has a hefty minimum investment requirement—$20 million—and a potentially onerous lockup—as long as two years, depending on the share class. But for those willing to pony up, Brevan is promising a raft of "excellent opportunities" this year that will make their commitment worthwhile.

The fund will invest mortgage-backed securities, real-estate linked collateralized debt obligations and other illiquid securities, seeking out those trading below their "intrinsic value," Bloomberg News reports. Brevan's thesis is that such assets lost so much value last year that, combined with assets sales by European banks and other motivated sellers, it will leave the fund with an embarrassment of rich opportunities.

Brevan launched the fund in March. It is managed by David Warren, head of its Credit Catalysts fund.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of